Coinbase has introduced x402 V2, the upgraded version of its open payments protocol designed for autonomous web and AI transactions. The launch marks a major milestone for the U.S.-listed exchange as it works toward unifying cryptocurrency payments with traditional financial systems, according to an official company announcement released on December 11.
Coinbase’s open payments protocol surpasses 100 million transactions
The x402 protocol has processed more than 100 million API-based payments across web services, AI agents, and machine-to-machine transactions in the six months following its debut, Coinbase stated. The system relies on stablecoins for settlement, typically through Layer 2 networks such as Base, Coinbase’s Ethereum scaling solution.
The latest version introduces standardized network and asset identification, enabling a single payment format to operate seamlessly across multiple blockchains, including Base and Solana, as well as traditional payment systems like ACH and card networks. Coinbase said this advancement positions x402 as a “unified payment layer” that can bridge cryptocurrency and conventional finance.
V2 focuses on modularity and efficiency
Coinbase said that x402 V2 aims to streamline repeated transactions and improve developers’ ability to integrate the protocol across platforms. The new release adds wallet-based sessions, allowing users to reuse purchased resources or maintain subscription-style access without restarting the payment process.
The company explained that this design reduces overhead for intensive workloads such as large language model inference, automated API calls, and autonomous agent operations. Sessions now link to a wallet rather than an API key, eliminating repetitive on-chain transactions and making payments more efficient.
Coinbase added that the latest version separates clients, servers, and facilitators. This modular structure allows developers to introduce new blockchains, assets, and payment frameworks as independent components without having to modify the core protocol. According to the announcement, this approach enables scalability while preserving x402’s foundation as an open standard.
Discovery extension for autonomous payment discovery
A key addition to V2 is a Discovery extension, which allows x402-enabled services to expose metadata that facilitators can index. This feature enables AI agents to identify compatible services, analyze pricing, and initiate payments automatically. Coinbase said the Discovery layer builds on earlier experiments such as x402 Bazaar, which it described as a “Google for agents.”
Coinbase engineers said the feature expands the protocol beyond single-call payments and adds dynamic recipient support, extended chain coverage, and wallet-based identity. According to the company, the new tools will help developers create interoperable and programmable payment applications.
Open development and foundation support
Coinbase emphasized that x402 remains an open-source standard, available for integration into a wide range of decentralized and traditional systems. The x402 Foundation, created in September 2025, includes Cloudflare, Google, and Visa as members supporting its ongoing evolution.
Reference software development kits have been rewritten with a plug-in-driven architecture based on feedback from early adopters who tested the first version in production environments. This architecture lets developers build custom payment schemes and modules while maintaining compatibility with the broader protocol.
The exchange reiterated that x402 uses the HTTP 402: Payment Required response code as the interaction point for payments, transforming a once-unused web standard into a functioning tool for crypto transactions. The system’s native integration with HTTP enables “simple, programmable payments baked into how the web already works,” Coinbase said.
Coinbase’s vision for web-native financial infrastructure
“The snappily titled x402 V2 moves the AI agentic payments tool on from asking ‘So what does it actually do’ into ‘Which existing services can we plug it into next,’” a Coinbase representative said in an email quoted by CoinDesk.
In a note attached to its blog post, Coinbase explained that x402 V2 adds wallet-based identity, automatic API discovery, dynamic recipients, and support for more blockchains and fiat transactions via chain-agnostic standards.
“It’s all aimed at making x402 cleaner, more extensible, and future-proof, enabling unified payment models and wallet-based access for agents and humans alike,” the company said.
Coinbase positions x402 as the internet‑native payment protocol, one that eliminates the friction of traditional gateways by embedding value exchange directly into standard web interactions. The project’s blend of blockchain interoperability, stablecoin use, and open governance makes it a potential cornerstone for next‑generation digital commerce.
Gunel Ismayilova
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